Contract

• Contracts should include terms of agreement, deposit information, services provided and any policies affecting clients such as cancellation guidelines as well as any waived fees or incentives.
  
  

Insurance

• In the event of unforeseen circumstances, private event insurance offers the chance to regain monies lost by both the client and businesses involved. Planners may carry insurance to protect themselves and their clients in case of accidents or cancellations, while venues carry it to safeguard the building or grounds from damage or guest injury.
  
  

Liability

• Proof of liability insurance, seen in a certificate of insurance, is often required by a venue or event planner prior to holding an event. Purchased by the client and obtained through an insurance agent or event insurance company, a certificate names them as an additional insured party on a policy.
  
  

Cost

• In 2009, certificates of insurance, with coverage up to millions of dollars, can cost $100 to $500.
  
  

Coverage

• Coverage varies and it should be detailed who is covered within the policy. Most policies cover issues such as venue, vendors, inclement weather, acts of war or military duty, and unexpected illness. These policies offer the peace of mind that recovery of funds is possible.